Greenfire Resources Announces New Director Appointment
Greenfire Resources (NYSE: GFR) (TSX: GFR) has appointed Tom Ebbern to its Board of Directors, bringing over 40 years of oil and gas industry experience, including expertise in energy investment banking and capital markets. Ebbern previously served as CFO of North West Refining and held board positions at several energy companies.
The company has scheduled an Annual and Special Meeting of Shareholders for May 6, 2025, in Calgary, following a requisition from Waterous Energy Fund entities, which own approximately 43.3% of Greenfire's shares. Additionally, Greenfire has amended its shareholder rights protection plan, extending the shareholder ratification deadline to May 6, 2025. The Toronto Stock Exchange will defer consideration of accepting the Amended Rights Plan until securities commission review.
Greenfire Resources (NYSE: GFR) (TSX: GFR) ha nominato Tom Ebbern nel suo Consiglio di Amministrazione, portando oltre 40 anni di esperienza nell'industria petrolifera e del gas, inclusa la competenza in investment banking energetico e mercati dei capitali. Ebbern ha precedentemente ricoperto il ruolo di CFO presso North West Refining e ha occupato posizioni nel consiglio di amministrazione di diverse aziende energetiche.
L'azienda ha programmato un'Assemblea Annuale e Straordinaria degli Azionisti per il 6 maggio 2025, a Calgary, a seguito di una richiesta da parte di entità del Waterous Energy Fund, che possiedono circa il 43,3% delle azioni di Greenfire. Inoltre, Greenfire ha modificato il suo piano di protezione dei diritti degli azionisti, estendendo la scadenza per la ratifica degli azionisti al 6 maggio 2025. La Borsa di Toronto rimanderà la considerazione dell'accettazione del Piano di Diritti Modificato fino alla revisione della commissione dei valori mobiliari.
Greenfire Resources (NYSE: GFR) (TSX: GFR) ha designado a Tom Ebbern para su Consejo de Administración, aportando más de 40 años de experiencia en la industria del petróleo y gas, incluyendo experiencia en banca de inversión energética y mercados de capitales. Ebbern había sido anteriormente CFO de North West Refining y ocupó cargos en el consejo de varias empresas energéticas.
La compañía ha programado una Junta Anual y Especial de Accionistas para el 6 de mayo de 2025, en Calgary, tras una petición de entidades del Waterous Energy Fund, que poseen aproximadamente el 43,3% de las acciones de Greenfire. Además, Greenfire ha modificado su plan de protección de derechos de los accionistas, extendiendo la fecha límite de ratificación para los accionistas hasta el 6 de mayo de 2025. La Bolsa de Valores de Toronto diferirá la consideración de la aceptación del Plan de Derechos Modificado hasta la revisión por parte de la comisión de valores.
그린파이어 리소스 (NYSE: GFR) (TSX: GFR)가 톰 엡번(Tom Ebbern)을 이사회에 임명하여 40년 이상의 석유 및 가스 산업 경험을 갖게 하였으며, 에너지 투자은행 및 자본 시장에 대한 전문성을 포함하고 있습니다. 엡번은 이전에 노스웨스트 정유(North West Refining)의 CFO로 재직했으며 여러 에너지 회사의 이사회에서 그러한 지위를 맡았었습니다.
회사는 2025년 5월 6일 캘거리에서 주주총회 및 특별 주주총회를 예정하고 있으며, 이는 그린파이어의 약 43.3%의 주식을 소유하고 있는 워터러스 에너지 펀드(Waterous Energy Fund) 측의 요청에 따른 것입니다. 또한 그린파이어는 주주 권리 보호 계획을 수정하여 주주 승인 마감일을 2025년 5월 6일로 연장하였습니다. 토론토 증권거래소는 증권 위원회의 검토까지 수정된 권리 계획의 수용을 보류할 것입니다.
Greenfire Resources (NYSE: GFR) (TSX: GFR) a nommé Tom Ebbern au sein de son Conseil d'Administration, apportant plus de 40 ans d'expérience dans l'industrie pétrolière et gazière, y compris une expertise en banque d'investissement énergétique et en marchés des capitaux. Ebbern a précédemment été CFO de North West Refining et a occupé des postes au conseil d'administration de plusieurs entreprises énergétiques.
L'entreprise a prévu une Assemblée Générale Annuelle et Extraordinaire des Actionnaires pour le 6 mai 2025 à Calgary, suite à une demande d'entités du Waterous Energy Fund, qui détiennent environ 43,3 % des actions de Greenfire. De plus, Greenfire a modifié son plan de protection des droits des actionnaires, prolongeant la date limite de ratification des actionnaires au 6 mai 2025. La Bourse de Toronto différera la considération de l'acceptation du Plan de Droits Modifié jusqu'à l'examen de la commission des valeurs mobilières.
Greenfire Resources (NYSE: GFR) (TSX: GFR) hat Tom Ebbern in seinen Vorstand berufen und bringt über 40 Jahre Erfahrung in der Öl- und Gasindustrie mit, einschließlich Fachkenntnissen in der Energie-Investmentbanking und in den Kapitalmärkten. Ebbern war zuvor CFO von North West Refining und hatte Vorstandspostitionen in mehreren Energieunternehmen inne.
Das Unternehmen hat eine Jahreshaupt- und Sonderversammlung der Aktionäre für den 6. Mai 2025 in Calgary angesetzt, nachdem eine Anfrage seitens der Waterous Energy Fund-Entitäten eingegangen war, die ungefähr 43,3 % der Aktien von Greenfire besitzen. Darüber hinaus hat Greenfire seinen Plan zum Schutz der Aktionärsrechte geändert und die Frist für die Zustimmung der Aktionäre auf den 6. Mai 2025 verlängert. Die Toronto Stock Exchange wird die Prüfung des angenommenen Rechtsplans bis zur Überprüfung durch die Wertpapieraufsichtsbehörde zurückstellen.
- Appointment of experienced director with 40+ years of industry expertise
- Strategic enhancement of board's technical, financial, and governance capabilities
- 43.3% ownership concentration by Waterous Energy Fund entities indicates significant shareholder concentration risk
- Implementation of defensive shareholder rights plan suggests potential takeover concerns
The Company Also Announces Date of Annual and Special Meeting of Shareholders
Calgary, Alberta--(Newsfile Corp. - December 9, 2024) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ("Greenfire" or the "Company"), a Calgary-based energy company focused on the production and development of thermal energy resources from the Athabasca region of Alberta, Canada, today announces the appointment of Tom Ebbern to Greenfire's Board of Directors (the "Board"). The Board believes that Mr. Ebbern's appointment significantly strengthens its technical, financial, and governance expertise, while also complementing the skills and experience of the other members.
Mr. Ebbern brings significant experience as a corporate director, including at companies with SAGD assets. With greater than 40 years of oil and gas industry experience, Mr. Ebbern spent over a decade of his career in energy investment banking and capital markets. Mr. Ebbern has served as a Strategic Advisor to North West Refining Inc. ("North West Refining") since 2019. From 2012 to 2019, Mr. Ebbern served as the Chief Financial Officer of North West Refining. He also served on the board of directors of Athabasca Oil Corporation from 2018 through 2023, Repsol Canada (formerly Talisman Energy Inc.) from 2013 through 2017, and Nexen Inc. from 2011 through 2013. Mr. Ebbern holds a Bachelor of Science degree in Geological Engineering from Queen's University and an MBA from the Ivey Business School at Western University.
The Board is pleased to welcome Mr. Ebbern to Greenfire and believes that his appointment will greatly enhance the Company's ability to pursue strategic alternatives and evaluate and execute Greenfire's development plans.
Shareholder Meeting
Greenfire also announces that it has called an Annual and Special Meeting of Shareholders (the "Shareholder Meeting") for May 6, 2025, in Calgary, Alberta, in response to the Requisition (as defined below). The Shareholder Meeting will address both normal course matters (including the matters related to the Requisition) and the Amended Rights Plan (as defined below).
Waterous Energy Fund III (Canadian) LP, Waterous Energy Fund III (US) LP, Waterous Energy Fund III (International) LP, Waterous Energy Fund III (Canadian FI) LP and Waterous Energy Fund III (International FI) LP, which acquired approximately
Shareholders will receive detailed information about the matters to be presented at the Shareholder Meeting and information about how to vote in a management information circular in advance of the Shareholder Meeting.
Amended and Restated Shareholder Rights Plan
The Company's previously announced shareholder rights protection plan (the "Rights Plan") has been amended and restated to extend the date for shareholder ratification to May 6, 2025, or six months from the adoption of the Rights Plan (the "Amended Rights Plan"). If the Amended Rights Plan is not ratified by the Company's shareholders on or before May 6, 2025, the Amended Rights Plan and all rights issued thereunder will terminate and cease to be effective at that time. All other terms and conditions of the Amended Rights Plan have not changed from the terms and conditions of the Rights Plan.
The extension to the date for shareholder ratification of the Amended Rights Plan is consistent with the policies of the Toronto Stock Exchange (the "TSX"), which provides that a shareholder rights plan must be ratified at a meeting of shareholders held within six months following the adoption of such shareholder rights plan.
In connection with the adoption of the Amended Rights Plan by the Board, the plan has been filed with the TSX. The Company has been notified that the TSX will defer consideration of the acceptance of the Amended Rights Plan until such time as the appropriate securities commission will not intervene pursuant to National Policy 62-202 - Take-Over Bids - Defensive Tactics. Normally, the TSX defers acceptance of shareholder rights plans adopted in response to a specific take-over bid. Despite this deferred consideration, the plan remains in effect.
About Greenfire
Greenfire is an intermediate, lower-cost and growth-oriented Athabasca oil sands producer with concentrated Tier-1 assets that use steam assisted gravity drainage extraction methods. The Company is operationally focused with an emphasis on an entrepreneurial environment and a high level of employee ownership. Greenfire Common Shares are listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol "GFR". For more information, visit greenfireres.com or find Greenfire on LinkedIn and X.
Shareholder Questions
Shareholders who have questions may contact Greenfire's strategic shareholder communications advisor:
Laurel Hill Advisory Group
Toll Free: 1-877-452-7184 (for shareholders in North America)
International: +1-416-304-0211 (for shareholders outside Canada and the US)
By Email: assistance@laurelhill.com
Contact Information
Greenfire Resources Ltd.
205 5th Avenue SW
Suite 1900
Calgary, AB T2P 2V7
investors@greenfireres.com
greenfireres.com
FORWARD-LOOKING STATEMENTS ADVISORY
This press release contains certain forward-looking statements or forward-looking information within the meaning of the United States federal securities laws and applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements relate to future events or Greenfire's future performance. All information other than statements of historical fact are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "targeting", "forecast," "strategy," "future," "opportunity," "plan," "potential," "may," "should," "will," "can," "could," "would," "will be," "to be," "to include," "to align," "will continue," "will likely result," and similar expressions. In addition to other forward-looking statements herein, there are forward-looking statements in this press release relating to, among other things, the timing for holding the Shareholder Meeting, the matters to be considered at the Shareholder Meeting, the intention to provide further information about the matters to be considered at the Shareholder Meeting and how to vote in a management information circular in advance of the Shareholders Meeting.
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. There may be a risk that the Shareholder Meeting may not be held or if held it may be held on a different date than currently contemplated. The matters to be considered may be different than the matters contemplated herein.
You should carefully consider all of the risks and uncertainties described in the "Risk Factors" section of the Company's annual report on Form 20-F dated March 26, 2024, which is available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar.shtml and in other documents filed by Greenfire from time to time on SEDAR+ and with the United States Securities and Exchange Commission. Forward-looking statements are statements about the future and are inherently uncertain. The Company does not intend, and does not assume any obligation, to update any forward-looking statements, other than as required by applicable law. For all of these reasons, the Company's securityholders should not place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232981
FAQ
When is Greenfire Resources (GFR) holding its Annual and Special Meeting of Shareholders?
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What percentage of Greenfire Resources (GFR) is owned by Waterous Energy Fund entities?
When does Greenfire Resources (GFR) need to ratify its Amended Rights Plan?
